At a CAGR of 16.23%, Smart Grid T&D Equipment Market Is Poised to Grow Globally over 2016-2020
ResearchMoz added Latest Research Report titled " Global Smart Grid T&D Equipment Market 2016-2020: Worldwide Market Size, Shares, Trends, Growth, Survey and Forecast report " to it's Large Report database.
Albany, NY -- (SBWire) -- 05/06/2016 --Globally the power T&D network is undergoing a transformation with the introduction of digital technologies into the grid; it is largely driven by the need for efficiency, improved reliability and the integration of diverse power generation sources. The traditional grid was designed to manage continuous power from sources such as coal, oil, and other resources. However, countries are focusing on newer alternate sources of technology, which serve as intermittent sources of power generation. To harness the full potential of renewable power and provide a continuous power supply, utilities require flexible power supply system. This implies using a combination of these alternate energy sources along with power backup options such as generators, energy storage, and smart devices that provide complete transparency to the network.
The global smart grid T&D equipment market to grow at a CAGR of 16.23% during the period 2016-2020. Smart T&D equipment transfers electricity from the transmission system to the consumer delivery point. Such equipment improves the overall efficiency of the smart grid, minimizes technical losses, improves O&M, and improves the longevity of the T&D equipment, deferring the investment and allowing grid operators to monitor and control the functions of the grid from a remote location. Smart T&D equipment includes reclosers, fault current indicators, automated switches, Volt-VAR control equipment, synchrophasor, and HVDC, among others.
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The market is divided into the following segments based on geography:
Technavio's report, Global Smart Grid Transmission and Distribution Equipment Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
- ABB Ltd.
- GE-Alstom Grid
- Prymsia Group
- Schneider Electric SE
- Siemen AG
Other prominent vendors
- First Subsea
- General Cable
- Schweitzer Engineering Laboratories
- Xian Electric Engineering
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Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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